Earnings Per Common Share of MAA (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the years ended December 31, 2020, 2019 and 2018, MAA’s diluted earnings per share was computed using the treasury stock method as presented below (dollars and shares in thousands, except per share amounts):

Calculation of Earnings per common share - basic	2020				2019				2018
Net income	$	264,015			$	366,618			$	231,022
Net income attributable to noncontrolling interests		(9,053	)			(12,807	)			(8,123	)
Unvested restricted stock (allocation of earnings)		(338	)			(519	)			(291	)
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	250,936			$	349,604			$	218,920

Weighted average common shares - basic		114,188				113,854				113,638
Earnings per common share - basic	$	2.20			$	3.07			$	1.93

Calculation of Earnings per common share - diluted
Net income	$	264,015			$	366,618			$	231,022
Net income attributable to noncontrolling interests		(9,053	)	⁽¹⁾		(12,807	)	⁽¹⁾		(8,123	)	⁽¹⁾
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	251,274			$	350,123			$	219,211

Weighted average common shares - basic		114,188				113,854				113,638
Effect of dilutive securities		312				259				198
Weighted average common shares - diluted		114,500				114,113				113,836
Earnings per common share - diluted	$	2.19			$	3.07			$	1.93

⁽¹⁾	^{For the years ended December 31, 2020, 2019 and 2018, 4.1 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive.}